The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABB LTD SPONSORED ADR 000375204 772 43,702 SH   DFND 1 43,702 0 0
AES CORP COM 00130H105 1,303 133,050 SH   DFND 1 133,050 0 0
AGCO CORP COM 001084102 553 11,863 SH   DFND 1 11,863 0 0
AGRIUM INC COM 008916108 292 3,260 SH   DFND 1 3,260 0 0
ALEXANDERS INC COM 014752109 37,771 100,991 SH   DFND 1 73,346 0 27,645
ALLIANCE RES PARTNER L P UT LTD PART 01877R108 39 1,750 SH   DFND 1 1,750 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 78 3,100 SH   DFND 1 3,100 0 0
AMERICAN TOWER CORP NEW COM 03027X100 335,841 3,817,242 SH   DFND 1 3,193,234 0 624,008
AMERICAN WTR WKS CO INC NEW COM 030420103 130,289 2,365,451 SH   DFND 1 1,989,551 0 375,900
ANADARKO PETE CORP COM 032511107 69 1,150 SH   DFND 1 1,150 0 0
APPLE INC COM 037833100 7,397 67,060 SH   DFND 1 67,060 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 150 3,621 SH   DFND 1 3,621 0 0
ARDMORE SHIPPING CORP COM Y0207T100 637 52,730 SH   DFND 1 52,730 0 0
ASPEN TECHNOLOGY INC COM 045327103 518 13,660 SH   DFND 1 13,660 0 0
AVALONBAY CMNTYS INC COM 053484101 172,114 984,519 SH   DFND 1 787,623 0 196,896
AXIALL CORP COM 05463D100 597 38,050 SH   DFND 1 38,050 0 0
AZURE MIDSTREAM PARTNERS LP COM UNIT LTD PAR 05501X100 254 42,900 SH   DFND 1 42,900 0 0
B & G FOODS INC NEW COM 05508R106 503 13,810 SH   DFND 1 13,810 0 0
BAKER HUGHES INC COM 057224107 999 19,192 SH   DFND 1 19,192 0 0
BANK AMER CORP COM 060505104 7,725 495,850 SH   DFND 1 495,850 0 0
BANK N S HALIFAX COMMON 064149107 5,410 122,500 SH Put DFND 3 122,500 0 0
BARRETT BILL CORP COM 06846N104 880 266,750 SH   DFND 1 266,750 0 0
BARRICK GOLD CORP COM 067901108 42 6,665 SH   DFND 1 6,665 0 0
BHP BILLITON LTD SPONSORED ADR 088606108 816 25,810 SH   DFND 1 25,810 0 0
BOARDWALK PIPELINE PARTNERS UT LTD PARTNER 096627104 21,880 1,858,941 SH   DFND 1 1,492,941 0 366,000
BOISE CASCADE CO DEL COM 09739D100 1,049 41,606 SH   DFND 1 41,606 0 0
BOISE CASCADE CO DEL COMMON 09739D100 5,044 200,000 SH   DFND 3 200,000 0 0
BP PLC SPONSORED ADR 055622104 4,036 132,066 SH   DFND 1 132,066 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 145,600 11,818,206 SH   DFND 1 9,461,913 0 2,356,293
BREITBURN ENERGY PARTNERS LP COM UT LTD PTN 106776107 27 13,075 SH   DFND 1 13,075 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 105,762 4,504,336 SH   DFND 1 3,597,567 0 906,769
Brookfield Canada Office Properties Trust Units 112823109 194,380 10,564,117 SH   DFND 2 10,564,117 0 0
BROOKFIELD HIGH INCOME FD IN COM 11272P102 86 11,800 SH   DFND 1 0 0 11,800
BROOKFIELD INFRAST PARTNERS LP INT UNIT LP Units G16252101 6,836 166,430 SH   DFND   166,430 0 0
BROOKFIELD MTG OPP INC FD IN COM 112792106 346 23,450 SH   DFND 1 0 0 23,450
BROOKFIELD PPTY PARTNERS LP LP UNIT LP Units G16249107 1,034,179 45,249,901 SH   DFND   45,249,901 0 0
BROOKFIELD RENEWABLE ENERGY PARTNERS LP LIMITED PARTNERSHIP PARTNERSHIP UNIT G16258108 1,100,342 40,026,986 SH   DFND   40,026,986 0 0
BUNGE LIMITED COM G16962105 130 1,768 SH   DFND 1 1,768 0 0
CABOT OIL & GAS CORP COM 127097103 75 3,440 SH   DFND 1 3,440 0 0
CAMDEN PPTY TR SH BEN INT 133131102 123,810 1,675,370 SH   DFND 1 1,335,572 0 339,798
CARE CAP PPTYS INC COM 141624106 54,304 1,649,082 SH   DFND 1 1,313,293 0 335,789
CBL & ASSOC PPTYS INC COM 124830100 187,673 13,648,969 SH   DFND 1 10,707,273 0 2,941,696
CEMEX SAB DE CV SPON ADR NEW 151290889 723 103,480 SH   DFND 1 103,480 0 0
CENTERPOINT ENERGY INC COM 15189T107 111,005 6,153,252 SH   DFND 1 5,093,952 0 1,059,300
CENTURYLINK INC CENTURYLINK INC 156700106 1,151 45,820 SH   DFND 1 45,820 0 0
CF INDS HLDGS INC COM 125269100 696 15,503 SH   DFND 1 15,503 0 0
CIVEO CORP CDA COM 17878Y108 61 41,300 SH   DFND 1 41,300 0 0
COCA COLA CO COM 191216100 6,491 161,800 SH   DFND 1 161,800 0 0
COLFAX CORP COM 194014106 604 20,203 SH   DFND 1 20,203 0 0
COLUMBIA PIPELINE GROUP INC COM 198280109 38,963 2,130,304 SH   DFND 1 1,859,204 0 271,100
COLUMBIA PIPELINE PARTNERS L COM UT REPSTG 198281107 10,670 842,800 SH   DFND 1 652,200 0 190,600
CONCHO RES INC COM 20605P101 307 3,120 SH   DFND 1 3,120 0 0
COOPER-STD HLDG INC COMMON 21676P103 3,689 63,600 SH   DFND 3 63,600 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 103,079 4,901,544 SH   DFND 1 3,935,944 0 965,600
COSAN LTD SHS A G25343107 2,861 990,100 SH   DFND 1 990,100 0 0
COSTAMARE INC SHS Y1771G102 630 51,310 SH   DFND 3 51,310 0 0
CRESTWOOD EQUITY PARTNERS LP UNIT LTD PARTNER 226344109 20,166 8,844,869 SH   DFND 1 7,275,501 0 1,569,368
CRESTWOOD MIDSTREAM PARTNERS UNIT LTD PARTNER 226378107 13,680 2,213,600 SH   DFND 1 2,213,600 0 0
CRH PLC ADR 12626K203 137 5,174 SH   DFND 1 5,174 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 186,762 2,367,972 SH   DFND 1 2,000,272 0 367,700
CSX CORP COM 126408103 61,625 2,290,905 SH   DFND 1 1,959,605 0 331,300
DAKOTA PLAINS HLDGS INC COM 234255107 1,261 1,575,633 SH   DFND 1 1,575,633 0 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 3,501 104,003 SH   DFND 1 84,317 0 19,686
DDR CORP COM 23317H102 11,240 730,800 SH   DFND 1 730,800 0 0
DHT HOLDINGS INC SHS NEW Y2065G121 357 48,180 SH   DFND 1 48,180 0 0
DOMINION RES INC VA NEW COM 25746U109 2,118 30,100 SH   DFND 1 30,100 0 0
DOUGLAS EMMETT INC COM 25960P109 81,412 2,834,688 SH   DFND 1 2,280,993 0 553,695
DYNEGY INC COMMON 26817R108 5,168 250,000 SH   DFND 3 250,000 0 0
EDISON INTL COM 281020107 20,447 324,200 SH   DFND 1 324,200 0 0
ENBRIDGE ENERGY MANAGEMENT L SHS UNITS LLI 29250X103 15,478 650,865 SH   DFND 1 650,865 0 0
ENBRIDGE ENERGY PARTNERS L P COM 29250R106 878 35,500 SH   DFND 1 35,500 0 0
ENERGY TRANSFER EQUITY L P COM UT LTD PTN 29273V100 17,925 861,346 SH   DFND 1 700,746 0 160,600
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 142,846 3,478,120 SH   DFND 1 2,798,820 0 679,300
ENLINK MIDSTREAM PARTNERS LP COM UNIT REP LTD 29336U107 123 7,800 SH   DFND 1 7,800 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 130,769 5,251,762 SH   DFND 1 3,965,562 0 1,286,200
EPR PPTYS PFD C CNV 5.75% 26884U208 94 4,252 SH   DFND 1 4,252 0 0
EPR PPTYS CONV PFD 9% SR E 26884U307 2,010 65,398 SH   DFND 1 65,398 0 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 29,056 438,051 SH   DFND 1 342,951 0 95,100
EQUITY COMWLTH CUM PFD S D 6.5% 294628201 1,299 53,000 SH   DFND 1 53,000 0 0
Equity One Inc. Common Stock 294752100 31 1,259 SH   DFND 2 1,259 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 155,899 2,075,334 SH   DFND 1 1,718,634 0 356,700
EURONAVE NV ANTWERPEN SHS B38564108 1,738 125,000 SH   DFND 3 125,000 0 0
EV ENERGY PARTNERS LP COM UNITS 26926V107 96 16,011 SH   DFND 1 16,011 0 0
EVERSOURCE ENERGY COM 30040W108 113,988 2,251,830 SH   DFND 1 1,867,530 0 384,300
EXXON MOBIL CORP COM 30231G102 596 8,020 SH   DFND 1 8,020 0 0
FIBRIA CELULOSE S A SP ADR REP COM 31573A109 569 41,933 SH   DFND 1 41,933 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 1,694 124,800 SH   DFND 1 124,800 0 0
FORTUNE BRANDS HOME & SEC IN COM 34964C106 945 19,905 SH   DFND 1 19,905 0 0
FREEPORT-MCMORAN INC CL B 35671D857 46 4,791 SH   DFND 1 4,791 0 0
GASLOG LTD SHS G37585109 1,596 165,900 SH   DFND 3 165,900 0 0
GENER8 MARITIME INC COMMON Y26889108 2,464 225,000 SH   DFND 3 225,000 0 0
GENERAL ELECTRIC CO COM 369604103 1,898 75,250 SH   DFND 1 75,250 0 0
General Growth Properties Common Stock 370023103 7,778,144 299,504,977 SH   DFND 2 299,504,977 0 0
GENERAL MLS INC COM 370334104 7,280 129,696 SH   DFND 1 129,696 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V126 452 34,193 SH   DFND 1 34,193 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V118 697 34,193 SH   DFND 1 34,193 0 0
GENERAL MTRS CO COM 37045V100 8,796 293,000 SH   DFND 1 293,000 0 0
GOLAR LNG LTD BERMUDA COMMON G9456A100 1,394 50,000 SH   DFND 3 50,000 0 0
GOLAR LNG LTD BERMUDA COMMON G9456A100 2,091 75,000 SH Call DFND 3 75,000 0 0
GPO AEROPORTUARIO DEL PAC SA SPON ADR B 400506101 22,695 261,344 SH   DFND 1 261,344 0 0
GRANITE CONSTR INC COM 387328107 622 20,965 SH   DFND 1 20,965 0 0
GREENBRIER COS INC COMMON 393657101 2,408 75,000 SH   DFND 3 75,000 0 0
GULFPORT ENERGY CORP COM NEW 402635304 703 23,700 SH   DFND 1 23,700 0 0
HALLIBURTON CO COM 406216101 748 21,156 SH   DFND 1 21,156 0 0
HCP INC COM 40414L109 184,009 4,939,827 SH   DFND 1 3,955,427 0 984,400
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 85,073 3,754,324 SH   DFND 1 2,997,949 0 756,375
HIGHWOODS PPTYS INC COM 431284108 124,121 3,203,126 SH   DFND 1 2,439,520 0 763,606
HILTON WORLDWIDE HLDGS INC COM 43300A104 12,030 524,400 SH   DFND 1 423,500 0 100,900
HOLLY ENERGY PARTNERS L P COM UT LTD PTN 435763107 94 3,250 SH   DFND 1 3,250 0 0
HORSEHEAD HLDG CORP COM 440694305 27 8,722 SH   DFND 1 8,722 0 0
HOST HOTELS & RESORTS INC COM 44107P104 146,818 9,286,431 SH   DFND 1 7,473,277 0 1,813,154
HUDSON PAC PPTYS INC COM 444097109 102,468 3,559,151 SH   DFND 1 2,867,623 0 691,528
IRON MTN INC NEW COM 46284V101 1,650 53,186 SH   DFND 1 53,186 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 2,730 25,000 SH   DFND 3 25,000 0 0
ISTAR INC COM 45031U101 14,629 1,162,900 SH   DFND 1 939,200 0 223,700
ITC HLDGS CORP COM 465685105 72,658 2,179,310 SH   DFND 1 1,795,110 0 384,200
JOHNSON & JOHNSON COM 478160104 7,156 76,656 SH   DFND 1 76,656 0 0
JPMORGAN CHASE & CO COM 46625H100 7,893 129,450 SH   DFND 1 129,450 0 0
KANSAS CITY SOUTHERN COM NEW 485170302 57,278 630,264 SH   DFND 1 522,164 0 108,100
KELLOGG CO COM 487836108 6,530 98,120 SH   DFND 1 98,120 0 0
KINDER MORGAN INC DEL COM 49456B101 130,418 4,711,638 SH   DFND 1 4,246,038 0 465,600
LEXINGTON REALTY TRUST PFD CONV SER C 529043309 151 3,200 SH   DFND 1 3,200 0 0
LOWES COS INC COM 548661107 1,050 15,241 SH   DFND 1 15,241 0 0
M & T BK CORP COM 55261F104 2,098 17,200 SH   DFND 1 17,200 0 0
Mack-Cali Realty Corp. Common Stock 554489104 7,945 420,809 SH   DFND 2 420,809 0 0
MACQUARIE INFRASTRUCTURE COR COM 55608B105 10,923 146,307 SH   DFND 1 146,307 0 0
MARKWEST ENERGY PARTNERS L P UNIT LTD PARTN 570759100 19,894 463,625 SH   DFND 1 342,831 0 120,794
MCDONALDS CORP COM 580135101 6,301 63,950 SH   DFND 1 63,950 0 0
METHANEX CORP COM 59151K108 32 980 SH   DFND 1 980 0 0
MID-AMER APT CMNTYS INC COM 59522J103 81,385 994,082 SH   DFND 1 810,362 0 183,720
MONDELEZ INTL INC CL A 609207105 9,075 216,750 SH   DFND 1 216,750 0 0
MONSANTO CO NEW COM 61166W101 361 4,226 SH   DFND 1 4,226 0 0
MOSAIC CO NEW COM 61945C103 54 1,730 SH   DFND 1 1,730 0 0
NATIONAL HEALTH INVS INC COM 63633D104 18,825 327,448 SH   DFND 1 254,048 0 73,400
NATIONAL OILWELL VARCO INC COM 637071101 1,315 34,920 SH   DFND 1 34,920 0 0
NEWMONT MINING CORP COM 651639106 45 2,772 SH   DFND 1 2,772 0 0
NEXTERA ENERGY INC COM 65339F101 1,356 13,900 SH   DFND 1 13,900 0 0
NGL ENERGY PARTNERS LP COM UNIT REPST 62913M107 18 920 SH   DFND 1 920 0 0
NISOURCE INC COM 65473P105 71,713 3,865,924 SH   DFND 1 3,326,724 0 539,200
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 13,198 919,100 SH   DFND 1 742,100 0 177,000
NORTHSTAR RLTY FIN CORP COM NEW 66704R704 128,277 10,386,778 SH   DFND 1 8,315,378 0 2,071,400
NORTHWESTERN CORP COM NEW 668074305 135 2,500 SH   DFND 1 2,500 0 0
NRG YIELD INC CL A NEW 62942X306 34 3,060 SH   DFND 1 3,060 0 0
NRG YIELD INC CL C 62942X405 37 3,210 SH   DFND 1 3,210 0 0
NUSTAR ENERGY LP UNIT COM 67058H102 7,595 169,456 SH   DFND 1 169,456 0 0
NUSTAR GP HOLDINGS LLC UNIT RESTG LLC 67059L102 79 2,950 SH   DFND 1 2,950 0 0
ONE GAS INC COM 68235P108 49,376 1,089,263 SH   DFND 1 942,123 0 147,140
OUTFRONT MEDIA INC COM 69007J106 195,265 9,387,737 SH   DFND 1 7,554,667 0 1,833,070
PACKAGING CORP AMER COM 695156109 507 8,435 SH   DFND 1 8,435 0 0
PARKER DRILLING CO COMMON 701081101 4,208 1,600,000 SH   DFND 3 1,600,000 0 0
PARKWAY PPTYS INC COM 70159Q104 0 1 SH   DFND 1 0 0 1
PATTERN ENERGY GROUP INC CL A 70338P100 6,227 326,210 SH   DFND 1 326,210 0 0
PEMBINA PIPELINE CORP COM 706327103 31,239 1,301,085 SH   DFND 1 1,301,085 0 0
PFIZER INC COM 717081103 5,972 190,125 SH   DFND 1 190,125 0 0
PG&E CORP COM 69331C108 195,084 3,694,780 SH   DFND 1 3,038,680 0 656,100
PHILIP MORRIS INTL INC COM 718172109 6,050 76,265 SH   DFND 1 76,265 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 2,714 89,330 SH   DFND 1 89,330 0 0
PLAINS GP HLDGS L P SHS A REP LTPN 72651A108 29,932 1,710,400 SH   DFND 1 1,322,800 0 387,600
PLY GEM HLDGS INC COMMON 72941W100 2,505 214,065 SH   DFND 3 214,065 0 0
POTASH CORP SASK INC COM 73755L107 273 13,300 SH   DFND 1 13,300 0 0
PPG INDS INC COM 693506107 592 6,750 SH   DFND 1 6,750 0 0
PROCTER & GAMBLE CO COM 742718109 5,844 81,230 SH   DFND 1 81,230 0 0
PROLOGIS INC COM 74340W103 345,501 8,881,779 SH   DFND 1 7,061,457 0 1,820,322
PULTE GROUP INC COM 745867101 1,062 56,300 SH   DFND 1 56,300 0 0
RICE ENERGY INC COM 762760106 65 4,030 SH   DFND 1 4,030 0 0
RICE MIDSTREAM PARTNERS LP UNIT LTD PARTN 762819100 2,112 158,530 SH   DFND 1 158,530 0 0
RIO TINTO PLC SPONSORED ADR 767204100 53 1,581 SH   DFND 1 1,581 0 0
Rouse Common Stock 779287101 302,059 19,387,624 SH   DFND 2 19,387,624 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 11,787 248,250 SH   DFND 1 248,250 0 0
SBA COMMUNICATIONS CORP COM 78388J106 147,262 1,405,972 SH   DFND 1 1,186,572 0 219,400
SCHLUMBERGER LTD COM 806857108 185 2,680 SH   DFND 1 2,680 0 0
SEMGROUP CORP CL A 81663A105 38,518 890,790 SH   DFND 1 755,790 0 135,000
SEMPRA ENERGY COM 816851109 120,059 1,241,305 SH   DFND 1 1,104,705 0 136,600
SIMON PPTY GROUP INC NEW COM 828806109 574,334 3,126,139 SH   DFND 1 2,526,649 0 599,490
SL GREEN RLTY CORP COM 78440X101 290,361 2,684,554 SH   DFND 1 2,131,454 0 553,100
SM ENERGY CO COM 78454L100 1,860 58,040 SH   DFND 1 58,040 0 0
SOUTHERN COPPER CORP COM 84265V105 64 2,390 SH   DFND 1 2,390 0 0
SOUTHWEST GAS CORP COM 844895102 5,750 98,600 SH   DFND 1 98,600 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 52,699 275,000 SH Put DFND 3 275,000 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 12,151 370,000 SH Put DFND 3 370,000 0 0
SPECTRA ENERGY CORP COM 847560109 21,330 811,937 SH   DFND 1 811,937 0 0
STILLWATER MNG CO COM 86074Q102 55 5,350 SH   DFND 1 5,350 0 0
SUMMIT MIDSTREAM PARTNERS LP COM UNIT LTD 866142102 2,262 128,300 SH   DFND 1 128,300 0 0
SUNEDISON INC COM 86732Y109 49 6,770 SH   DFND 1 6,770 0 0
SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 60,870 2,123,850 SH   DFND 1 1,700,850 0 423,000
SUNSTONE HOTEL INVS INC NEW COM 867892101 64,498 4,875,111 SH   DFND 1 3,891,911 0 983,200
SYNGENTA AG SPONSORED ADR 87160A100 471 7,377 SH   DFND 1 7,377 0 0
TALLGRASS ENERGY GP LP SHS CL A 874696107 49 2,480 SH   DFND 1 2,480 0 0
TARGA RES CORP COM 87612G101 62,118 1,205,700 SH   DFND 1 1,042,100 0 163,600
TARGA RESOURCES PARTNERS LP COM UNIT 87611X105 52,256 1,799,441 SH   DFND 1 1,544,841 0 254,600
TEEKAY CORPORATION COM Y8564W103 8,698 293,455 SH   DFND 1 293,455 0 0
TEEKAY LNG PARTNERS L P PRTNRSP UNITS Y8564M105 35 1,480 SH   DFND 1 1,480 0 0
TEEKAY OFFSHORE PARTNERS L P PARTNERSHIP UN Y8565J101 14,078 978,297 SH   DFND 1 978,297 0 0
TERRAFORM PWR INC CL A COM 88104R100 69 4,860 SH   DFND 1 4,860 0 0
TESORO LOGISTICS LP COM UNIT LP 88160T107 108 2,390 SH   DFND 1 2,390 0 0
TEUCRIUM COMMODITY TR CORN FD SHS 88166A102 157 6,653 SH   DFND 1 6,653 0 0
THOMPSON CREEK METALS CO INC COMMON 884768102 874 2,000,000 SH   DFND 3 2,000,000 0 0
TOLL BROTHERS INC COM 889478103 4,560 133,180 SH   DFND 1 31,200 0 101,980
TRINITY INDS INC COMMON 896522109 8,501 375,000 SH   DFND 3 375,000 0 0
TRINITY INDS INC COMMON 896522109 2,267 100,000 SH Call DFND 3 100,000 0 0
UNION PAC CORP COM 907818108 175,563 1,985,780 SH   DFND 1 1,694,980 0 290,800
UNITED CONTL HLDGS INC COM 910047109 860 16,202 SH   DFND 1 16,202 0 0
VALE S A ADR 91912E105 35 8,335 SH   DFND 1 8,335 0 0
VALERO ENERGY CORP NEW COM 91913Y100 156 2,590 SH   DFND 1 2,590 0 0
VENTAS INC COM 92276F100 184,792 3,296,325 SH   DFND 1 2,645,325 0 651,000
VEREIT INC COMMON 92339V100 3,860 500,000 SH   DFND 3 500,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 326 7,500 SH   DFND 1 7,500 0 0
VORNADO RLTY TR SH BEN INT 929042109 220,455 2,438,121 SH   DFND 1 1,843,541 0 594,580
VULCAN MATLS CO COM 929160109 51 574 SH   DFND 1 574 0 0
WABCO HLDGS INC COM 92927K102 912 8,700 SH   DFND 1 8,700 0 0
WELLTOWER INC COM 95040Q104 2,961 116,804 SH   DFND 1 116,804 0 0
WESTLAKE CHEM CORP COM 960413102 30 570 SH   DFND 1 570 0 0
WESTROCK CO COM 96145D105 128 2,483 SH   DFND 1 2,483 0 0
WEYERHAEUSER CO COM 962166104 13,664 499,782 SH   DFND 1 360,172 0 139,610
WEYERHAEUSER CO COMMON 962166104 2,734 100,000 SH Put DFND 3 100,000 0 0
WILLIAMS COS INC DEL COM 969457100 181,232 4,918,088 SH   DFND 1 4,329,888 0 588,200
WILLIAMS PARTNERS L P NEW COM UNIT LTD PAR 96949L105 51,867 1,624,918 SH   DFND 1 1,301,976 0 322,942
WP GLIMCHER IN COM 92939N102 69,151 5,930,578 SH   DFND 1 4,627,914 0 1,302,664
XCEL ENERGY INC COM 98389B100 1,749 49,400 SH   DFND 1 49,400 0 0